Holderness Investments Co. Reduces Stake in Dominion Energy, Inc. (NYSE:D)

Holderness Investments Co. cut its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 12,044 shares of the utilities provider’s stock after selling 313 shares during the quarter. Holderness Investments Co.’s holdings in Dominion Energy were worth $649,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. State Street Corp grew its holdings in shares of Dominion Energy by 3.2% during the 3rd quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock worth $2,559,972,000 after purchasing an additional 1,365,555 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Dominion Energy by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock worth $1,653,964,000 after purchasing an additional 1,222,688 shares during the period. Geode Capital Management LLC grew its holdings in shares of Dominion Energy by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,875,221 shares of the utilities provider’s stock worth $1,032,941,000 after purchasing an additional 367,193 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Dominion Energy by 7.7% during the 4th quarter. Bank of New York Mellon Corp now owns 14,938,848 shares of the utilities provider’s stock worth $804,606,000 after purchasing an additional 1,068,996 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Dominion Energy by 4.8% during the 3rd quarter. Franklin Resources Inc. now owns 8,718,747 shares of the utilities provider’s stock worth $496,358,000 after purchasing an additional 398,012 shares during the period. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Price Performance

D stock opened at $54.91 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58. The firm has a market capitalization of $46.79 billion, a P/E ratio of 20.34, a P/E/G ratio of 1.22 and a beta of 0.58. The business’s 50-day moving average is $55.17 and its two-hundred day moving average is $56.31. Dominion Energy, Inc. has a 1 year low of $46.56 and a 1 year high of $61.97.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. Analysts anticipate that Dominion Energy, Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 28th were given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend was Friday, February 28th. Dominion Energy’s dividend payout ratio (DPR) is presently 98.89%.

Analyst Ratings Changes

A number of brokerages recently commented on D. Morgan Stanley raised their target price on Dominion Energy from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday. Scotiabank raised their target price on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised their target price on Dominion Energy from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, March 11th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $57.36.

About Dominion Energy

Dominion Energy, Inc produces and distributes energy in the United States. It operates through three operating segments: Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.8 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.